We are experiencing a once-in-several-life-times market. Most indexes were down 3%++. Volume was 1.6 billion on the NYSE with only 319m on an uptick. Another devastating day. We have given back more than a decade of growth. It is unlikely we will continue straight down. …
What will placate the sellers? Probably Dow Jones 6000. That is almost 1200 points down. We are oversold right here but we were oversold at the opening, as well. Markets always over shoot in both directions. So, the DJ 5300 call made earlier today by …
Nothing could hold the sellers as most everything turns to red, led by tech. Banks putting on a valiant fight but cannot figure out why government ownership is good for Citi. Continue to pare down positions by selling IBM. Thinking they go lower I added …
A market letter to which I have recently subscribed has turned ulta-bearish. Global Money Trends is forecasting a further 20% decline in the Dow to 6000. Gary Dorsch is the author and he provides a convincing forecast based upon historic comparison to Japan’s lost decade. …
Technical analysis receives disapproval in business schools. There are studies suggesting there is little or no value to the practice as it pertains to stock direction. I don’t know what the truth is but I find it curious that today’s low was S&P 754.37. This …
Market off only 1% but internals are awful. 465 new lows and 1 new high. Single digit stocks all over the place: Wells Fargo -18%; GE -8%; BAC -14%, Citi -20%………..all now under $10/share. Banks around the world are reeling. Focus is on Eastern Europe; …
You should be looking for despair. Until then we will not be cleansed. As buy-n-holders finally, finally give up and surrender their shares despair be will rampant. Have been looking for a high volume wretched day for months now. Even with the pre-market looking grim …
HP’s earnings (or lack of them) is having a much greater impact on tech than imagined. Without tech it is difficult to see how the market can mount a sustained drive. And, since tomorrow is options expiration the rest of the week should be choppy. …
Despite disappointing earnings and guidance from HP and in the face of the jobs report, futures point to a strong opening. Oil is up, gold is down, modestly. As preached here consistently, buy-n-hold investing is a dead strategy. To subscribe to this technique is to …
Range bound, unless some news hits.S&P at 790; keep an eye on 740. Should we close below then all hell breaks loose. Gold has modestly recovered and is now up on the day. Miners, however, are subject to profit taking. Someday I’m going to get …